In June, the Canadian Industrial Product Index rose0.7% compared with May, while the Raw Materials Price Index increased6.2%, according to a report today from Statistics Canada.Both gains were due to a strong increase in petroleum prices.

June’s increase in the IPPI followed declines of1.2% in May and0.6% in April. The IPPI was pushed up mainly by the prices for petroleum and coal products and, to a lesser extent, primary metal products. Prices for petroleum and coal products rose10.8%, more than twice the5.2% increase observed in May. However, excluding petroleum and coal products, the IPPI posted a0.3% decline, slower than the1.8% drop recorded in May.

Most of the2.2% increase for …